Markets regulator Sebi on Monday imposed a penalty of Rs 25 crore on Yes Bank in the matter of misselling the lender's AT-1 bonds few years ago. Besides, the watchdog has imposed a fine of Rs 1 crore on Vivek Kanwar, who was the head of the private wealth management team, and Rs 50 lakh each on Ashish Nasa and Jasjit Singh Banga. The two individuals were part of the private wealth management team at the time of violation. They need to pay the penalty within 45 days, Sebi said in its order.
The government on Friday notified the rules for insolvency and liquidation proceedings of financial service providers (FSPs). These rules, notified by the ministry of corporate affairs, will not be applicable to banks, reports Ruchika Chitravanshi.
Any revision in loan rates would be visible next month.
Postpone the purchase of big-ticket consumer durable items, recreational spending on holidays, and other such expenses unless your financial position is very secure, advises Sarbajeet K Sen.
It's a new modus operandi of scamsters to dupe investors, warns Sebi
Attention to details is paramount when filing income-tax return (ITR). By mid-June, employees receive Form 16 from their employers. The first step in filing ITR is to compare Form 26AS with Form 16. If there are discrepancies in the figures quoted in the two documents, they need to be rectified.
Borrowers who were hoping for lower interest rates on their home or car loans might be in for some disappointment.
Merely choosing investment products in accordance with your risk profile is not enough. Consider all your requirements before deciding where to put your money
'Largely, new demat accounts are now being opened by the younger crowd, particularly GenZ.' 'This is great news since younger investors start their journey with very little capital, so they are risking less.'
But what do banks gain by opening their apps for all? The answer -- rival bank's customers under their fold.
An excerpt from 'Money Smart: The Indian Woman's Guide To Managing Wealth' by Reenita Malhotra Hora and Divya Vij that reveals various options to help you save tax as well as invest for creating long-term wealth.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
Those taking up a job abroad should notify their bank about the change in status and open appropriate NRI accounts
The Supreme Court-appointed Justice Gita Mittal committee, set up to oversee relief and rehabilitation of the victims of ethnic violence in Manipur, on Monday submitted three reports highlighting the need for reconstruction of identity documents, upgradation of compensation and appointment of domain experts to facilitate its functioning.
If you are in credit opportunity funds, income funds or dynamic bond funds for a long-term goal, stay put.
Prime Minister Narendra Modi on Saturday announced a number of welfare measures for children who lost their parents to COVID-19, including ensuring a corpus of Rs 10 lakh when they turn 18 and providing for their education.
One of the big takeaways from the recently released data on India's merchandise trade is that gold imports have, once again, skyrocketed.
The government is doubling down on existing 'temporary' restrictions on the import of gold. Some were introduced under the last administration, and had a transitory effect, reducing gold imports through the official channel.
The Supreme Court on Monday awarded a four-month sentence to fugitive businessman Vijay Mallya, accused in a bank loan default case of over Rs 9,000 crore involving his defunct Kingfisher Airlines, in a contempt case.
The benchmark Sensex companies' underlying earnings per share are down 3 per cent (on a cumulative basis) since January 2015, against 25 per cent rise in the index value during the period
Per capita income has more than doubled to Rs 1.97 lakh in around nine years. Indian economy has increased in size from being 10th to 5th largest in the world in the past nine years. Seven priorities of the Budget, 'Saptarishi', are inclusive development, reaching the last mile, infrastructure and investment, unleashing the potential, green growth, youth power and financial sector.
The 8.1 per cent interest rate was recommended by the Central Board of Trustees after its meeting in Guwahati under the chairmanship of Union Labour and Employment Minister Bhupendra Yadav, a labour ministry press statement said.
You can build your own retirement savings portfolio by investing in equity, hybrid and/or debt funds. Alternatively, you can also invest in retirement funds which provide asset allocation solutions for different investment needs and risk appetites, says Dwaipayan Bose
The charge sheet also claimed Fernandez consciously chose to overlook Chandrashekhar's criminal past and continued to indulge in financial transactions with him and both were working in collusion.
'Gold could benefit from the resulting risk aversion, as happened last year.'
Many investment options once seen as safe havens are presently out of sync
In a live chat on rediff.com on Wednesday, July 16, 4 pm, Feroze Azeez, will offer some valuable suggestions on investments.
Highly-rated finance firms and housing finance companies are expected to benefit from the absence of Housing Development Finance Corp (HDFC) from the bond market once it merges with the HDFC Bank in early FY24. Post merger, the bond market is expected to become less crowded, which will ease fund raising conditions for other players in the field. It may perhaps also compress the spread for debt instruments floated by housing finance companies (HFCs) over 10-year government bonds, subject to demand and supply conditions.
Central Bureau of Investigation is investigating the Saradha ponzi scam.
Investments and expenses under section 80 C allows various tax benefits, says Harjot Singh Narula
While investing in PPF, investors must remember to put in the money at the right time to maximise the return they earn from it.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Insurance company will bear the cost of digitising. It will in turn benefit from lower expenses on servicing policies.
This is aimed at improving liquidity in all schemes and would help them to meet sudden redemption pressures, said Sebi chairman Ajay Tyagi.
All the accused moved their bail pleas before the court which granted the relief to them. Jaitley was also present in the court room.
Equity debt, gold - these all are terms you may have heard of when reading on funds but not quite sure where to start with or which one most suits your needs.
His statement assumes significance in the light of scams in the state-owned banks.
Domestic households are grossly underexposed to equities.
'Very few of small investors stay invested for those three or four or five years.' 'If there's like a six month, one-year period when market is not doing well, you exit.' 'After the market has run up, you get in again.' 'This way you will never make returns.'
